Hamburg start-up develops AI for trucks

Cargonexx, a Hamburg-based start-up, has developed AI technology for truck business.

The technology is a self-learning artificial neural network that is able to predict spot market prices for individual loadings within milliseconds.

More than 1,700 carriers have registered within the first four months of the operation. The service is free of charge as the start-up earns a margin between buying and selling a tour.

“Our target group are not the small shippers, but the middle-sized and big freight forwarders,” said Rolf-Dieter Lafrenz, CEO and co-founder. “Cargonexx makes their life much easier and cheaper. This is why they want us to grow.”

Andreas Karanas, second founder of Cargonexx: “The spot market is only the first step. With our data intelligence, we will be able to offer many new smart services to shippers, freight forwarders and carriers.”